JD Sports, Ocado and Hilton Food Group

“FTSE indices opened on the front foot following gains on Wall Street and in Asia overnight, with UK traders looking to a raft of inflation data out mid-morning,” says AJ Bell Investment Director Russ Mould.

“JD Sports raced out of the blocks in the first half with adjusted pre-tax profits up 66% on last year’s previous record. The favourable trends for athletic inspired footwear and apparel in Europe have continued into this year and JD Sports is very much at the centre of this market. The group has now set its sights further afield with the takeover of Next Athleisure in Australia which has 32 stores trading as Glue. JD Sports’ shares were up by 4.5% in early trading.

“Online grocer Ocado’s average orders per week jumped by nearly 19% in the 12 weeks to 7 August, its best volume performance in more than five years. But the group is not immune to the supermarket price war and is seeing sustained and continuing pressure on its margins.

“Hilton Food Group has seen continued growth and strategic progress in the first half with turnover and pre-tax profits up despite challenging market conditions. The group is continuing its strategy of furthering the geographic reach of the Hilton model and exploring a range of new expansion opportunities.”

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